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ME Bank Refinance up to $4000 Cashback, Minimum Loan $250,000 - and LVR up to 80%. Rates from 5.93% (CPR 5.95%)

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ME Bank Refinance up to $4000 Cashback, Minimum Loan $250,000 - and LVR up to 80%. Rates from 5.93% (CPR 5.95%)
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AssociatedWilson Heroes HL @ Heroes Home Loans on 23/08/2023 - 13:06 mebank.com.au (337 clicks)
Last edited 23/08/2023 - 14:22 by 1 other user

Hello All Ozbargainers

A $2,000 cash back offer is available on refinances of an existing home loan from another financial institution with a minimum new lending of $250,000 and a loan to value ratio (LVR) between 60.01% and 80%. A $4,000 cash back offer is available on refinances of an existing home loan from another financial institution with a minimum new lending of $250,000 and an LVR of less than 60%.

ME Bank has extended their $4000 cashback offer pass the end of June and is one of the last few banks that offer cashback for a limited time only.
These are the latest rates.

Principal and Interest Owner Occupied HOME LOAN
Variable - 5.93% (CPR 5.95%) FOR LVR <80%
Variable - 5.98% (CPR 6.09%) FOR LVR <80% - ** For 100% offset account**

Principal and Interest INVESTMENT HOME LOAN
Variable - 6.14% (CPR 6.16%) FOR LVR <80% For 100% offset account**
Variable - 6.39% (CPR 6.41%) FOR LVR <80%

Interest ONLY INVESTMENT HOME LOAN
Variable - 6.39% (CPR 6.41%) FOR LVR <60%

A lot of banks are removing their cashback and only a handful banks are retaining their cashback at this stage. Rates are recently on upward trajectory as RBA is desperately curbing inflation to Rba’s inflation target.
ME Bank offers decent rates and niche policies, ie essential workers overtime, $7500 addback for novated lease, predominant pricing for OO/INV purposes and etc.
ME Bank’s cashback is still available to owner occupiers and investors on all ME home loan products. Cashback is available per security which means you can obtain multiple cashbacks if your application meets the following:
Apply from 01/12/2022 and settle within 120 days of the loan application date
Switch their existing home loan from another lender
Take out a home loan with a minimum size of $250k and LVR between 60.01% and 80% (to receive $2K cashback)
Take out a home loan with a minimum size of $250k and LVR of less than 60% (to receive $4K cashback)
Not available home loans from ME or from other lenders within the Bank of Queensland (BOQ) Group which includes
BOQ, BOQ Specialist and Virgin
In the case of multiple qualifying applications, only one cash back can be received per separate security proper

Other refinancing rebates available:
BOQ- Get up to $3,000 cashback
St George/BOM - Get up to $2,000 cashback from 1st July 2023 to 31st August 2023 T&Cs apply.
ANZ - Get up to $4,000 cashback
BOC - $4288 cashback

Please feel free to email me at [email protected] or text/call me on 0477 200 670 and I would be happy to answer all finance related questions

Wilson Yuan
Managing Director
Credit Representative Number is 530101 under Australia's Services Australian Credit License (ACL) 389328 © 2021 HEROES HOME LOANS AUSTRALIA PTY LTD
http://heroeshomeloans.com.au/

Referral Links

Referral: random (34)

$150 Coles Group & Myer Gift Card for both referree and referrer when loans are settled.

Financial Cashback Home Loan Refinance

Related Stores

ME Bank
ME Bank
Heroes Home Loans
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closed Comments

  • freedomofspeech on 23/08/2023 - 13:06
    +1

    5.79 st George

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 23/08/2023 - 13:08
      -1

      Yes but only $2k cashback

      • kurdoxan on 23/08/2023 - 22:07
        +1

        refinanced to ANZ last week, 5.79% with $4000 cashback.

        • freedomofspeech on 23/08/2023 - 22:17

          Yes me too

          • JutakuHome on 25/08/2023 - 11:40

            @freedomofspeech: I've begun my refinancing journey with ANZ. 50% LVR, all good financially. They can only offer 5.92% variable with offset and $4K cashback. How did you get 5.79%?

        • ol mate on 24/08/2023 - 21:33

          I don’t feel special anymore. They offered me the same rate and CB to not refinance away

    • HereToSave on 23/08/2023 - 13:53
      +1

      Was going to ask that. Very specific with rates but not what gets you the cashback eligibility.

      • AssociatedWilson Heroes HL @ Heroes Home Loans on 24/08/2023 - 06:21

        Not sure what you mean, I have attached the terms and condition that specific the cashback eligiblity.

        Apply from 01/12/2022 and settle within 120 days of the loan application date
        Switch their existing home loan from another lender
        Take out a home loan with a minimum size of $250k and LVR between 60.01% and 80% (to receive $2K cashback)
        Take out a home loan with a minimum size of $250k and LVR of less than 60% (to receive $4K cashback)
        Not available home loans from ME or from other lenders within the Bank of Queensland (BOQ) Group which includes
        BOQ, BOQ Specialist and Virgin
        In the case of multiple qualifying applications, only one cash back can be received per separate security property

  • tohara on 23/08/2023 - 13:56
    +3

    Can you explain the $7,500 novated lease add back?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 23/08/2023 - 16:14

      what's the context?

      • FuRyZ on 23/08/2023 - 17:06

        Your description says ME offers some niche policies including a '$7500 addback for novated lease'. What does that mean?

        • AssociatedWilson Heroes HL @ Heroes Home Loans on 24/08/2023 - 06:22

          If you have a novated lease, can add it back to servicing with ME Bank

  • RR88 on 23/08/2023 - 13:58
    +5

    i really think these predatory posts should not be allowed, what of any of this junk is a bargain?

    • yaaNaa on 23/08/2023 - 17:46
      +1

      What are good deals for home loan refinancing?

  • AircraftFreight on 23/08/2023 - 14:17

    Hey there, by any chance do you offer Development Loans? Commerical and Personal.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 23/08/2023 - 16:12
      +1

      Yes we do for both

  • mr_asstight on 23/08/2023 - 14:17

    I'm with ME bank not bad

  • ozbargainerlife1 on 23/08/2023 - 15:16

    Any other banks doing cashback?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 23/08/2023 - 16:13

      Other refinancing rebates available:
      BOQ- Get up to $3,000 cashback
      St George/BOM - Get up to $2,000 cashback from 1st July 2023 to 31st August 2023 T&Cs apply.
      ANZ - Get up to $4,000 cashback apply before the 25th of August
      BOC - $4288 cashback

  • Frozensage on 23/08/2023 - 15:45

    if ME was as bad as BOQ, 2 month since I spoke to the bank manager at BOQ and I'm still waiting for pre approval. Every week their numbers change on how much I can borrow and need more documents. It's been so long since when I first sent my pay slip, I have to re send everything again last week. So annoying and I'm not even a customer yet.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 23/08/2023 - 16:14

      Sorry to hear about that, let me know if you need any help with the pre-approval. We have some lenders that offer preapproval within 2 business days :)

  • juzz0 on 23/08/2023 - 18:16

    How is the LVR determined? Say I purchased a unit 2 years ago for $550k and my current mortgage is $330k will you accept the purchase price (which is 60% LVR) or consider a $600k valuation or actually say it’s only worth $500k? Also are there unit square metre limits for ME bank? I recall the 40sqm/apartment cut off was a bit of a trouble when I applied for mortgages back in 2021.

    • rainy118 on 23/08/2023 - 19:27

      bank will do a valuation when you apply the refinance. LVR = loan / current bank valuation

  • rainy118 on 23/08/2023 - 19:25

    Very bad deal, if you go with a broker, you have to stay for minimum 2 years, the cash back becomes 2000 per year. Assume the average loan amount is 500,000. 2000 per year is a saving of 0.4% per year. So the equivalent rate is 5.53%. The Unloan is doing 5.59%, clearly beating this deal because you can switch out at any time.

    • bulla3 on 23/08/2023 - 20:52
      +2

      You don't have to stay for 2 years though?

    • soc on 23/08/2023 - 22:22
      +1

      Unloan has gone up to 5.74%

    • Kas on 24/08/2023 - 10:59

      No, this is not correct, you don't have to stay for 2 years. It is your choice. Yes broker prefer, if you stay for 2 years, then they can get full commission. All your choice, once cashback hit to your bank, you are free to go…

      • ol mate on 24/08/2023 - 21:36

        As above - brokers will get their commission clawbacked back during the first 2 years (it’s stepped - usually 100% in the first year, then different %s during the second).

        Brokers used to get borrowers to sign contracts saying they were responsible for the clawback, but I believe this was made illegal during the banking royal commission.

  • dsp26 on 01/09/2023 - 09:14

    ME Bank and their approval team are absolute nutters.

    they still hadn't confirmed settlement on the day of settlement because their muppet heading up approvals was expecting a formal closure letter of my last home loan from CBA, which they don't do… they eventually gave me one which ME Bank still didn't accept.. was basically forced to start an expedited loan process with CBA again as a favour to me and to threaten to take ME Bank and their legal team to court for the penalty they would have incurred me for not being ready by settlement.

    Will be switching out spite this year.. because of this stupidity, i don't even feel safe with my cash in one of their offset accounts.

  • Untalentedllama on 01/09/2023 - 09:17

    For investment loan with offset is the 6.14% rate across the board? I was quoted 6.24% a few weeks ago because my loan size is <$400k (LVR < 60%), but not sure if they've bumped the rates down?

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